marketing research, information and forecasting
DESCRIPTION
Another resource from uneOpen – the first open online site to offer credit towards a university degree. Enrol now at https://www.uneopen.com/TRANSCRIPT
Week 2Week 2
Topic 3: Marketing Research,
Information and Forecasting
Marketing research
The systematic design, collection, analysis, and reporting of
data relevant to a specific marketing situation facing an
organization.
“Research is an art, an art of telling a story and making
sure that it involves a pertinent topic, sound theoretical
framework and of course, is making a contribution to
the development of the field.”2
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
The Marketing Research process
1) Defining the problem and research objectives
“A well defined problem is half-solved.”- Don’t confuse problem with symptom.
Three types of objectives:Exploratory research: to gather preliminary information that will help define problems and suggest hypothesis.Descriptive research: to better describe marketing problems, situations and markets.Causal research: to test hypothesis about cause-and-effect relationship.
3
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
The Marketing Research process (cont.)2) Developing the research plan for collecting information Determining specific information needs Gathering secondary information
Secondary data Primary data Online database
4
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
The Marketing Research process (cont.)Advantages and disadvantages of secondary dataPlanning primary data collection
Observational research (Explorative information) Survey research (Descriptive information) Experimental research (Casual information)
5
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
The Marketing Research process (cont.)Contact method
Mail, telephone, personal (Individual, focus group), Online
Sampling Plan Sample: A segment of the population selected for marketing research
to represent the population as a whole.
6
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
The Marketing Research process (cont.)It requires three decisions:
who is to be surveyed (Sampling unit) How many people to be surveyed (Sampling size) How should the people in the sample be chosen (Sampling procedure)
Research instrument: Questionnaire and mechanical device
7
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
3) Implementing research plan
Interpreting and reporting the findings.
8
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
Estimation of Consumer Demand
The estimation of demand is a crucial concept in respect to
marketing research and the search for information and
knowledge about the market.
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
Methods of Estimating Consumer DemandHeuristic estimation methods
1. The chain ratio method2. Standard industrial classification method3. Index of buying power method
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
Subjective estimation methods
1. Delphi method2. Sales force composite method3. Demand estimation through buyer intentions
Topic 3: Topic 3: Marketing Research, Information Marketing Research, Information
and Forecastingand Forecasting
Thank You!Thank You!